The young stars are not dating!

It has been heavily reported as of late that pop singers, Selena Gomez and Austin Mahone, were the music industry's hottest new couple.

However, the teen singer has finally put the rumors to bed after speaking with People magazine.

"We're just friends," he confirms.

"She's really cool . I mean, I think she's really pretty but every time I'm in L.A., she's like, 'Hey you're in L.A., lets hang out,' " he said at an Aquafina FlavorSplash press conference on Wednesday (Jan 29th). "So it's cool."

An insider in the music industry also told the mag that the pair are not officially seeing each other, "Maybe they are more than just friends but they are certainly not dating," said the source.

The 21 year-old, who was reunited with her ex, Justin Bieber, at the beginning of this month, has been spending some time away from the spotlight following the 'Love Me' singer's arrest in Miami this past Thursday (Jan 23rd).

Maybe she found comfort with Mahone, as the source also reveals, "They've been hanging out over the last few months," adding, "They have a lot of respect for each other."

The 'Say Somethin' singer also spoke of the nature of their friendship at this year's Grammy Awards on Sunday (Jan 26th). "We're super close friends. She has some new music coming out. She showed me some of her music and it's incredible," he said on the red carpet.

This isn't the first time the young pop-stars have been linked together, in the summer of last year (2013) rumors began to circulate that they were dating after being spotted on a day trip to Disneyland.

Austin Mahone
Austin Mahone has denied dating rumors with Selena Gomez